A cinema hall located in Greater Noida was sealed on Wednesday over the non-payment of dues amounting to Rs 1.95 crore. The Grand Venice Mall in Uttar Pradesh's Greater Noida failed to pay the dues to Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) despite getting several recovery notices. The cinema hall was sealed abruptly when Bollywood's latest release Tiger 3 was being screened.
As per a report by The Times of India, the Sadar SDM Ankit Kumar said while Rera had issued three recovery certificates against the developer of the mall, Bhasin Infotech and Infrastructures Ltd, the consumer forum slapped one.
“Although buyers invested their money, their properties were not handed over to them. Some of them approached Rera while others filed petitions at the consumer forum. Both of them issued recovery certificates against the developer. Multiple reminders were sent to the developer, but they were ignored. So, we visited the Grand Venice Mall on Monday and sealed a cinema hall,'' TOI reported quoting the Sadar SDM.
The Grand Venice mall owners, M/s Grand Venezia Commercial Tower Pvt. Ltd. and M/s Bhasin Infotech and Infrastructure Pvt. Ltd, despite several notices failed to clear the dues, which led the Greater Noida District Consumer Disputes Redressal Commission to take strict action.
The crackdown led by the district magistrate is a part of a broader campaign as builders in the Gautam Buddha Nagar region owe nearly Rs 600 crore to the district administration.
UP-Rera issues recovery notices against the builders in order to protect the interest of homebuyers and also to boost real estate investments.